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20121121
20121129
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interest, the city would go to market today. the once needed the deficit because the cash flow will be positive. and we could potentially not sell the debt out to 20467 2047 and could just have it mature to 2045. and that would require the sf travel to continue to fund the stablization fund throughout the term of the debt. but because we are far out. we have another four or five more years to go. we thought that it was safe to use an assumed interest rate of 6 percent so we can see what the scenarios or what scenarios would result. in addition the ssand the e would be funded from the assessments and not the proceeds from the cods. and the way that we have structured this is the city would collect, we would receive and we would fund that service and all of the buckets that we are proposing here and then the tickets sent over to the med. the idea is that it becomes a lock box that is more secure rather than sending it to them and bringing it back to make those payments. >> just a quick question, how does i guess the two things that i do want to ask in the amendment that we see is
. and in doing that, we will realize in circumstances where we will have the deficits where the general fund will have additional dollars. so we are proposing that in the event that occurs, that if we continue to collect the revenue more than we need for that service, we would fund that med assessments will repay the city for those deficits. the next one is the stabilization fund, we know which hotel and revenues that are volatile, so the city negotiater will travel that will fund a stablization fund for future losses in all losses in revenues. and the amounts of $15 million and the goal is that as we move that portion of that $15 million it gets replenished and so it will be maintained through the term of the cod. in addition, as you know, the term of the district expires in 2045, we are proposing that we sell cops through 2047. typically when you sell bonds >> once they are satisfied this could go back to fund the future development and capital improvement to the center. so if you look at the cash flows, you will see that the number include the med pairs, we are going to use a combination
their course options. at the same time after we did that, there was this giant deficit we felt through the city -- through the state. then it was how we implement these new requirements while we experience these cuts. so school sites experienced it because they got less money than they had before. and why you heard some going from a seven to six-period day to make those choices to support their core program. they have all done these different cuts. and then we had the additional hit of what happened from the state with the after-school fund. because we weren't anticipating that. >> right. >> and i think that the school district eliminated evening schools that we still had that safety net. now we have an awareness and responsibility to reallocate and reprioritize in this new budgeting cycle. to be sure that we are meeting the needs of the students for graduation in the school district. i am not in a position to say 2.7 but to meet the needs. >> this may be a question more to young or the superintendent. which is to say that what we see before us is a supplemental request for $2.7 million. to pro
will have the deficits where the general fund will have additional dollars. so we are proposing that in the event that occurs, that if we continue to collect the revenue more than we need for that service, we would fund that med assessments will repay the city for those deficits. the next one is the stabilization fund, we know which hotel and revenues that are volatile, so the city negotiater will travel that will fund a stablization fund for future losses in all losses in revenues. and the amounts of $15 million and the goal is that as we move that portion of that $15 million it gets replenished and
the city needs, this is not going to solve the city's deficit problems because the deficit problems are endemic. the start of the federal government. it starts with a policy of war. does not come from cabdrivers. what you are doing would have little effect of the budget robin; it will have a devastating effect on those people. i know this will not have no effect on director heinicke, but i will hope that the rest of you will take about this change your mind about what you have already decided to do. thank you very much. [indiscernible] >> hi i am barry [indiscernible] i don't have a whole lot to say because i have already been saying it, and people have been saying the same thing. cabdrivers are some of the lowest paid people here; they may have busy nights, the ones who work the good shifts might make some money but the others have to work this slow shifts; they make around 25,000 here, they stay in the business hoping to get a medallion, and what you guys are doing is taking the money that a career cabdrivers look forward to, they don't get any benefits, they don't get empl
to fully fund education. another term for this gap between the blue and orange lines is the deficit factor. it's a term in california school of finance. and that is now over 22%. so for every dollar of baseline revenues we should be receiving, we are receiving 78 cents of funding. and that is being scored and tabulated each year by the state. and it is hopefully going to be restored over time. but in the past six years we have been making do with the resources you see on this chart. >> just to clarify, that's the projected statutory cola, the difference between that and the orange line? >> that's correct. >> and that's what is calculated with the state and hopefully there is repayment of that gap. >> correct, supervisor. just a couple of other points that are pertinent to the item before you. in the spring of 2009, was when the board of education passed its a-g graduation requirements. you see in this context that was right before this precipitous decrease in the state's funding for schools. the board of ed passed the graduation requirements in may of 2009. the budget from the state for fy
needs and deficit and my belief that the funding will come from muni operating money. worry now seeing that's the case, that muni is considering using some of this maintenance money for the free muni program rather than to invest in the system, purchase vehicles, rehabilitate vehicles, and over-wise make the system more reliable. once a free muni pilot program ends there will be enormous pressure to extend the program and that pressure almost certainly will include using more funding using to improve muni's reliant. >> vice president elsbernd: i need to interrupt. we have a overflow room that is open across the the hall in the board chambers. these first two items on muni's performance will take a good 45 minutes to at least an hour. there are folks who are standing, that are here to testify on these items. if you are not here for these items, but are on the other items, we would really appreciate it if you would let those, who are standing, whoer here to testify, have your seats. you can go in the other room. it's on tv. when this item is done you will be able to come back in. it woul
deficit that muni has been experiencing for many years and that's not necessarily fair and is based on an erroneous dichotomy, the case what ed risken was saying. we hope you can keep and open mind and invest in our youth by supporting this program. thank you. you. next speaker. i have a few more cards. i'm going to call them so i've called through all the cards. carl noe, jarron brown, paul slade, walter brown, amelia, and peter louderborn. those are the cards i have. thank you. >> good morning, government and audit oversight committee. waller james, here representing the central city srojp collaborative and all the sro collaboratives around the city and also power, and also mainly the youth. i just have a couple of points that i want to make and just give you guys a small personal story. i remember back in the day like in the 90's, living with my sister, or just being expose to do like children that are in the ghetto, different areas that might not have too much guidance, you wonders why they don't get up and go to school. some of it might be due3y%( &3çy some of it might be due
and exceeded that requirement. we have a structural deficit for the current fiscal year and the years 2013, 14, and that is $34 million each year. our projections is now that we will reduce that fund balance in the current year to about $26 million at the end of the current fiscal year. and next year that we will -- if we don't take very serious steps to reduce expenditures or increase revenues, that we will actually have a negative ending fund balance of $4 million. and considering that we must maintain a positive fund balance of $15 million, that will give us short fall. >> just to be clear your reserve is $50 million dollars and 15 i required. and at the end of this year you expect to be at a level of $26 million. >> correct. >> what is the balance you used to plug your budget this year? the difference between the 50 million and the 26 million. you are using the reserve to balance. >> correct, drawing down reserves to reducing the fund balance by that amount. >> okay, and i guess the other question, it's clear in terms of summer school that was cut and evening school. those are areas where
will be seeing cuts in the coming years. so there will be deficits that we'll be facing, in the coming years. we talked about the mandated cost block[u&,9- getting some additional dollars from that. and then the budget projections were bleak. they continue to be bleak. so once again, we're not -- we're still in a position where we'll be cutting and modifying and adjusting for next year. giving. >> who's first? commissioner wynns. >> commissioner wynns: i just mandated cost block grant be distributed to all the board members and hopefully at some time in the future we could have a discussion about that, because how this is going to work, this is another new change to the funding structure. it would be good for us all to know before we do the budget next year, to understand that better, i think. thank you. >> can i just encourage, if you haven't received this, mr. lee, all of the board members we asked for your input on what you'd like to hear. coming up we'd like to do our budget committee earlier rather than later knowing there are additional cuts we have to focus on and to set our priorities. w
and addressing the deficit of low and very low and moderate income units. small efficiency dwelling units units are not a panacea for the shortage of housing but offered at market rate will satisfy the demand for moderate housing and generate funds for affordable housing through inclusionary fees. i would like to outline recommendations if the proposed ordinance is approved by the board of supervisors. this is to facilitate the open and common space requirements and satisfy the planning code so first the recommendation is that the proposed new planning code sek 318 to define efficiency dwelling units with reduced square footage be removed and that a new residential use category not be introduced into the planning code. rather we recommend that there simply be a reference to the existing and amending building code definition. second we recommend that the new interior common space requirement be a minimum rather than a maximum as proposed. specifically the department recommends a requirement of 10 square feet per unit regardless of the -- the total number of efficiency dwelling units includ
with a planned deficit reduction by 2013. these cuts are what we refer to as sequestration. this would mean an across the board cut of between 7% and 10% of all defense and non-defense federal spending irrespective of policy or its impact on everyday people. these cuts would be absolutely devastating to our national and local economies. our -- show that sequestration will reduce federal funding direct to san francisco by at least 26.5 million dollars a year, every single year. we would see over $5 million of cut to education, and almost $3 million of cuts from public housing. san francisco's allocation of medicare would be cut by $2 million. funding for the wic workforce program would lose almost $5 million. there would be a $1 million cut to housing services for people with hiv and aids and more than $1 million cut to the community development block grant program. ladies and gentlemen, this is our safety net. and our safety net's already strained by years of state cuts and it cannot sustain these additional reductions in federal funding. in addition to the cuts i have just detailed, there
Search Results 0 to 24 of about 25 (some duplicates have been removed)